One of the best ways to make sure that your Christmas holidays will be merry and stress-free is to plan out your Christmas budget well ahead of time. It’s easy to stay focused on our day-to-day obligations and put holiday season budgeting on the backburner, but the sooner we get a grip on the Christmas budget, the better it will be for our wallet and for our general sense of well-being in the long run. With that in mind, here are 6 easy tips to help you budget for Christmas in a timely and efficient way.

1. Write it down!

The most simple things are often overlooked, but actually writing out your Christmas budget is very important. Throughout the Christmas season advertisers will spend MILLIONS on targeting your impulse to spend without thinking, so if you want to stay on budget you need to have a concrete battle plan. Write down what you plan to buy and how much you can afford to spend, and review the list on a regular basis to remind yourself.

2. Stick to it!

Now that you have your list, treat it with respect. Look it over often – daily if possible – and make sure that you are not going over budget. Spending more on our loved ones can be tempting, especially during the holiday season, but if you stick to your carefully planned out budget you will be thankful that you did come January.

3. The Price isn’t Everything

In the majority of cases, our loved ones will appreciate the thought and care that goes into a gift far more than its retail price. Children especially don’t value gifts based on price but on the enjoyment that they get out of them. With that in mind, look for presents that are thoughtful and affordable, and forget about expensive jewellery and other overpriced trinkets.

4. Secret Santa is a Money Saver

The tradition of a group of friends or colleagues drawing names and then buying a gift for only one other person in the group can be a huge money saver. This way everyone gets a gift, and everyone saves a lot of money. Consider employing this strategy whenever possible.

5. Do NOT Borrow Money for Christmas!

This seems obvious, but many people will still do it. The whole point of budgeting for your holiday spending is so that you don’t end up in debt come January, which can put a dark cloud over what is supposed to be the most wonderful time of the year. If you catch yourself thinking about borrowing money for your Christmas shopping, THINK AGAIN!

6. If You REALLY Need Cash, Sell Old Gold and Valuables You No Longer Need

Many of us have old gold and jewellery locked away somewhere inside our homes. If you haven’t worn it in a long time and you don’t plan to wear it in the future (and if there is no significant sentimental value attached), sell your old gold and jewellery and use the money to complete your Christmas shopping without accruing debt. Just be sure to research the current market value of gold and other valuables so that you don’t get ripped off by unscrupulous gold buyers.

I hope that these 6 quick tips will help you have a healthy, merry, and stress-free Christmas! For more information about Christmas budgeting and other financial and real estate tips, feel free to contact me at Barbara.Grumme@Century21.ca.